As a seasoned crypto investor with over a decade of experience under my belt, I must admit that the recent surge of Shiba Inu (SHIB) has caught my attention. After witnessing numerous market cycles and observing the rise and fall of countless digital assets, it’s rare to see such a massive 203% surge in trading volumes and a 13.69% price increase within a single day.
The popular dog-inspired digital currency, Shiba Inu (SHIB), has witnessed a substantial increase in trading activity, soaring by an impressive 203%. This surge coincides with a spectacular price breakthrough for the cryptocurrency.
Based on information from CoinMarketCap, there was an impressive 203% increase in Shiba Inu’s trading activity. This significant boost in volume followed a time of consolidation, sparking interest among both traders and market experts.
Over the past day, the trading volume of Shiba Inu reached an impressive $665,513,196, which is equivalent to approximately 38.95 trillion SHIB coins. This significant increase represents a staggering 203% rise in value.
In the recent 24-hour period, the value of Shiba Inu has shown remarkable growth, rising by approximately 13.69%, currently standing at $0.00001699. This upward trend has been sustained for the last two days, marking a significant increase in its price.
The surge caused SHIB‘s price to soar dramatically, as a strong influx of buyers pushed up the need for the token on leading platforms. The heightened exchange activity seems to indicate a revived curiosity towards the token, which experienced more tranquil phases in the recent past.
Shiba Inu outperforms with massive 13% surge
Among all cryptocurrencies in the top 100, Shiba Inu (SHIB) is leading with remarkable daily increases, surpassing the general trend that saw most of them growing by approximately 1% to 13%. However, Worldcoin (WLD) has also shown impressive growth, rising by 15.21%.
Multiple elements could be powering this surge, such as enthusiasm about forthcoming advancements within the Shiba Inu community, a technical leap forward, and overall excitement about the crypto market’s future prospects.
Investments tied to riskier assets, encompassing digital currencies like Bitcoin (BTC) and alternative coins, have experienced a significant increase following the Federal Reserve’s recent decision to lower interest rates. Shiba Inu is no exception, as it managed to break through its daily Simple Moving Average 50 threshold.
Following the asset Shib’s positioning above the 50-day Simple Moving Average (SMA) at $0.00001391, which has been a price barrier since April, it began to ascend and recorded three consecutive days of increase. This uptrend culminated today in reaching highs of $0.00001709 during the trading session.
Based on information from IntoTheBlock, the ongoing Shiba Inu price surge may encounter a substantial resistance level around its current value of approximately $0.000019. This is because about 440.85 trillion SHIB tokens are currently being held by roughly 86,850 different wallets at this price point.
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2024-09-26 14:50